After long years of muted performance, the XRP price had rebounded in 2024, pushing close to its $3.8 all-time high, but not quite hitting the mark. This comes after the legal battle with the United States Securities and Exchange Commission (SEC) ended in 2024, triggering a wave of recovery.
Since then, though, the XRP price seems to have hit a ceiling and has been on a downtrend for over a year. This has pushed the price toward $1, an over 60% decline from its 2024 peaks. Despite this, predictions continue to pour in that the price moving above $10 is only a matter of time as XRP continues to be one of the most popular cryptocurrencies in the space.
The XRP Dream Has Changed From $1
Crypto analyst Crypto Patel took to the X (formerly Twitter) platform to explain where the investor mindset is sitting at now and how the dream seems to have changed. Pointing to historical performance, the analyst recalls how the dream was for XRP to actually reach $1 back when it was trading at around $0.003 back in 2017.
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However, in an interesting twist, the level that was the dream for every XRP holder back then has now become a level at which many are lamenting about. Instead of joining this train of complaint, though, Crypto Patel points out that even the current level is a major step up from where the XRP price used to be.
Sitting above $1 right now, it means that the XRP price has staged an over 37,000% rally from its lows. Thus, what is being seen as a decline could also be a cause for celebration, depending on the perspective that investors are looking at it from.
When To Start Buying Again
With the sentiment around the current level beating down investors, the crypto analyst is looking at lower levels to begin accumulating the cryptocurrency again. The highest accumulation zone from here sits at $1, which would be an over 10% decline from the price at the time of this report.
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Then moving further downward, the crypto analyst believes that the XRP price could fall as low as $0.6. This would then put the accumulation zone between $0.6 and $1, meaning that the bottom is expected to be reached around these two levels.
Nevertheless, the analyst says that the play for $10 remains intact even now. Mostly, it is a matter of time and patience when it comes to how high the XRP price could go. But the bullish narrative over the long-term continues to prevail.
Featured image from Dall.E, chart from TradingView.com